European vegetable oils slightly up

04 Aug, 2013

Asking prices for most products on the European vegetable oils market were up slightly on Friday in thin trade as players searched for fresh market-driving clues. At 1630 GMT CBOT soyaoil futures were between 0.08 and 0.20 down following soyabean futures on good crop weather and weaker mineral oil. iquid oils - soyaoil, rapeoil and sunoil - were offered between unchanged and eight euros per tonne up on the back of some pre-weekend covering and a technical rebound in rapeseed futures.
EU rapeoil changed hands between 740 and 743 euros per tonne fob exmill for November-January, up eight euros from Thursday. Palm oil was offered between unchanged and $5 a tonne up from Thursday after Malaysian palm oil futures closed narrowly mixed when investors took a breather following three days of gains on larger Malaysian palm oil exports during July. October-December RBD palm olein traded $2.50 up from Thursday at $722.50 a tonne fob Malaysia. Crude palm oil changed hands at $765 a tonne cif Rotterdam for October-December Lauric oils were offered between $5 a tonne up and $5 a tonne down from Thursday, mostly in sympathy with the trend in palm oil futures. Buyers showed little interest and no deals were reported.

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